Tesla, Inc.

Consumer Discretionary Automobile Manufacturers Austin, Texas Last filing Jan 29, 2026 · FY2025

                    Revenue
                    FY2025
                
$94.8B
                    3y CAGR +5.2%
                    
                    P51
                    
                    -2.9%
                    
                    Net income
                    FY2025
                
$3.8B
                    Net margin +4.0%
                    
                    P22
                    
                    -46.5%
                    
                    Total assets
                    FY2025
                
$137.8B
                    ROA +2.8%
                    
                    P22
                    
                    +12.9%
                    
                    Operating cash flow
                    FY2025
                
$14.7B
                    FCF margin +6.6%
                    
                    P23
                    
                    -1.2%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

36 accounts · 3 years

Total assets $137.8B

Total liabilities $54.9B

Shareholders equity $82.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	12.0%	13.2%	15.4%
Short Term Investments	20.0%	16.7%	11.9%
Accounts Receivable	3.3%	3.6%	3.3%
Inventory	9.0%	9.8%	12.8%
Prepaid Expenses	5.5%	4.4%	3.2%
Other Current Assets	5.5%	4.4%	3.2%
Total Current Assets	49.8%	47.8%	46.5%
Property,Plant and Equipment	29.5%	29.4%	27.9%
Operating Lease Assets	4.4%	4.2%	3.9%
Goodwill	0.0%	0.2%	0.2%
Intangible Assets	0.0%	0.1%	0.2%
Long Term Investments	20.0%	16.7%	11.9%
Deferred Tax Assets	5.0%	5.3%	6.3%
Other Noncurrent Assets	3.7%	3.5%	4.2%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	9.7%	10.2%	13.5%
Accrued Liabilities	8.8%	7.9%	7.2%
Deferred Revenue	2.5%	2.6%	2.7%
Current Portion of Long Term Debt	1.1%	1.9%	1.9%
Operating Lease Liabilities	0.7%	0.7%	0.6%
Other Current Liabilities	1.4%	1.3%	0.5%
Total Current Liabilities	23.0%	23.6%	27.0%
Long Term Debt	4.8%	4.5%	2.5%
Deferred Revenue Noncurrent	2.6%	2.7%	3.0%
Operating Lease Liabilities Noncurrent	3.9%	3.8%	3.4%
Deferred Tax Liabilities	0.0%	3.5%	3.0%
Other Noncurrent Liabilities	9.3%	8.6%	7.6%
Total Liabilities	39.9%	39.6%	40.3%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	31.0%	31.4%	32.7%
Retained Earnings	28.3%	28.8%	26.2%
Accumulated Other Comprehensive Income	0.3%	-0.5%	-0.1%
Noncontrolling Interest	0.5%	0.6%	0.7%
Total Stockholders Equity	59.6%	59.7%	58.7%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

20 accounts · 3 years

Revenue $94.8B

Operating income $4.4B

Net income $3.8B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	68.8%	80.0%	90.8%
Expenses Cost of Revenue	56.4%	65.7%	74.2%
Expenses Research and Development	4.7%	3.7%	3.7%
Expenses Selling,General and Administrative	4.2%	4.2%	4.5%
Expenses Share Based Compensation	2.0%	1.6%	1.7%
Expenses Restructuring and Asset Impairment	0.3%	—	—
Expenses Operating Expenses	9.2%	8.5%	8.2%
Other Income Expense Gross Profit	12.4%	14.3%	16.6%
Other Income Expense Operating Income	3.2%	5.8%	8.3%
Other Income Expense Interest Income	1.2%	1.3%	1.0%
Other Income Expense Interest Expense	0.0%	0.0%	0.1%
Other Income Expense Other Income/expense	-0.3%	0.6%	0.2%
Other Income Expense Income Before Tax	3.8%	7.4%	9.4%
Income Tax Income Tax Expense	1.0%	1.5%	-4.7%
net Income net Income	2.8%	5.8%	14.1%
net Income Comprehensive Income	3.5%	5.4%	14.3%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	2.3%	2.6%	3.0%
Earnings Per Share Weighted Average Shares Diluted	2.6%	2.9%	3.3%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 3 years

Operating cash flow $14.7B

Investing cash flow $-15.5B

Financing cash flow $1.1B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	2.8%	5.8%	14.1%
Operating Activities Depreciation and Amortization	3.7%	3.4%	3.1%
Operating Activities Stock Based Compensation	2.0%	1.6%	1.7%
Operating Activities Deferred Income Taxes	0.1%	0.4%	-6.0%
Operating Activities Changes In Operating Assets and Liabilities	3.2%	3.2%	5.6%
Operating Activities net Cash From Operating Activities	10.7%	12.2%	12.4%
Investing Activities Capital Expenditures	6.2%	9.3%	8.3%
Investing Activities Business Acquisitions	0.0%	0.0%	0.1%
Investing Activities Purchases of Investments	26.9%	29.5%	17.9%
Investing Activities net Cash From Investing Activities	-11.2%	-15.4%	-14.6%
Financing Activities Repayment of Debt	4.0%	2.0%	1.3%
Financing Activities Proceeds From Stock Issuance	0.9%	1.0%	0.7%
Financing Activities Other Financing Activities	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	0.8%	3.2%	2.4%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.1%	0.0%
Cash Reconciliation net Change In Cash	0.4%	-0.1%	0.2%
Cash Reconciliation Cash At Beginning of Period	12.0%	13.2%	15.4%
Cash Reconciliation Cash At End of Period	12.0%	13.2%	15.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+18.0%	+17.9%	+18.2%
Operating margin	+4.6%	+7.2%	+9.2%
Net margin	+4.0%	+7.3%	+15.5%
FCF margin	+6.6%	+3.7%	+4.5%
Growth
Revenue CAGR (3y)	+5.2%	+22.0%	+45.3%
Returns
ROE	+4.6%	+9.7%	+23.9%
ROA	+2.8%	+5.8%	+14.1%
ROIC	+4.3%	+8.7%	+17.5%
Liquidity
Current ratio	2.16x	2.02x	1.73x
Quick ratio	0.66x	0.71x	0.69x
Leverage
D/E	0.67x	0.66x	0.69x
Interest coverage	362.92x	336.95x	56.99x
Efficiency
Asset turnover	0.69x	0.80x	0.91x
Cash conversion cycle	+13d	+14d	+10d

Valuation

Price against fundamentals

TSLA $422 · 2025-09-16 · 364d old · FY2025

Market cap $1.5T

P/E 392.06x

P/S 15.69x

P/B 18.11x

EV $1.5T

EV/EBITDA —

FCF yield +0.4%

Dividend yield —

Notes

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